San Francisco based payments platform Stripe has finally started its private beta in India on December 12. Initially they have started with an invite-only beta for small group of companies, reveals a blog post by Anand Balaji, India Lead, Stripe.
Stripe’s ease of use has made it popular among software developers and online merchants.
“These businesses will help us test our platform in the Indian market and provide feedback on features that we’ll need to build to support all Indian businesses looking to accept online payments and run their companies on Stripe,” said Balaji.
It is planning to add more users to the beta in the next few months to test specific functionality, informs the blog post.
Stripe’s feel supporting Indian entrepreneurs is critical to its mission of expanding the GDP of the internet.
With Stripe Atlas, Stripe has already helped some Indian entrepreneurs build and scale global companies. However, it believes that by operating locally in India—with the ability for Indian companies to connect their local bank accounts to Stripe and get paid out in rupees.
It is also planning to support even more businesses and more types of business models (such as local marketplaces) in the years to come.
“Now more than ever, India is uniquely positioned to move more commerce online: In just the past two years, the percentage of India’s population connected to the internet has more than doubled to 500 million users. And in 2016, India saw more than twice the number of new businesses start as the United States,” added Balaji.
Stripe’s has received around $450 million in funding since its inception in 2010 from investors such as Sequoia Capital, Visa, American Express, Peter Thiel, and Elon Musk.